Puma reported Q3 gross sales fell 0.1 % to 2.31 billion euros. When adjusted for forex results, gross sales have been 5 % up.
“I’m happy with the progress on our model elevation journey,” Puma chief govt Arne Freundt mentioned in a press release. “We’re constructing the inspiration for accelerated and sustainable progress.”
Analysts had forecast revenues of two.36 billion euros for the three-month interval. That is the second quarter in a row that Puma has introduced outcomes under consensus expectations.
Puma recorded 2.6 % progress, on a currency-neutral foundation, over the previous 9 months.
Between July and September, the German sportswear model grew probably the most within the Americas, the place it noticed 11.4 % progress, fueled primarily by the U.S. and Latin America.
In Puma’s residence market of Europe, gross sales solely elevated by 0.8 %.
Within the Asia-Pacific area, Puma recorded a rise of three %. This was regardless of “softer client demand in Larger China,” the corporate famous.
Footwear gross sales — Puma’s largest section — rose 9.3 % in Q3, pushed by the efficiency class, the corporate mentioned. Equipment gross sales gained 2.9 %.
Attire gross sales slipped 0.7 % in Q3.
EBIT rose 0.3 % to 237 million euros.
On the again of the Q3 outcomes, Puma confirmed its steerage for the total yr. It nonetheless expects progress to return within the mid-single digits. Puma had lowered estimates for EBIT within the second quarter barely and reconfirmed that it expects an EBIT someplace between 620 million and 670 million euros for all of 2024.